Why I'm Warning Against the FIRE Lifestyle After Retiring Early from a Lucrative Banking Career

Business Insider on MSN.com

Eric Sim, a 54-year-old former managing director at a big bank, spent over 20 years in the banking industry before retiring early. Despite achieving financial independence, Sim expresses reservations about the Financial Independence Retire Early (FIRE) lifestyle, urging people to think twice before pursuing it. With his experience, he highlights the potential downsides of early retirement and the importance of careful consideration. As the FIRE movement gains popularity, Sim's insights serve as a cautionary tale, emphasizing the need for a balanced approach to financial planning and retirement. Popular concepts like frugal living and extreme saving are not for everyone